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Easton, PA 98765

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Four important decisions you’ll need to make about your umbrella insurance policy

Umbrella insurance protects your net worth and is essential if you face a lawsuit that costs you more than the maximum coverage offered by your other insurance policies. At Northeast Insurance Advisors LLC, we can help you find an umbrella insurance solution in Easton, PA.

You’ll need to make four important decisions about your umbrella insurance policy.

The insurance provider you buy umbrella insurance coverage from

It’s essential to choose an insurance provider with a good reputation.

Good customer service and a simple claims process are essential considerations to consider to avoid headaches down the road if you have a question about your policy or need to file a claim. 

The amount of coverage you want to invest in

When you buy umbrella insurance, you should know that this type of coverage is typically sold in increments of $1 million.

Consider your assets and total net worth when deciding on your coverage amount. Ideally, you’ll want to cover your total net worth with your umbrella insurance policy. 

Decide on your deductible amount.

Not all umbrella insurance policies include a deductible. However, umbrella insurance can sometimes include a small deductible.

You need to be aware of any deductible you’ll have to pay, and you’ll probably be given a few options for deductible amounts. 

Consider adding others to your policy.

You might want to specifically name other insured individuals on your policy, such as your spouse. This is important because you cannot automatically assume that your umbrella insurance will cover everyone in your household. 

Learn more about our umbrella insurance policy offers in Easton, PA, by calling Northeast Insurance Advisors LLC. Contact us now for a quote on a policy. 

Umbrella Insurance vs. Other Policies: How It Complements Your Existing Coverage

We all know the importance of having insurance coverage to protect ourselves and our valuables. But, with so many different types of insurance policies in Easton, PA, it can be challenging to know which one(s) to choose. Northeast Insurance Advisors LLC explains more about umbrella insurance.

Understanding Umbrella Insurance

First, let’s define what umbrella insurance is. Think of it as an extra layer of liability protection on top of your other insurance policies, like homeowners or auto insurance. If an accident or incident occurs and you are found liable for damages exceeding the limits of your other policies, umbrella insurance can help cover the additional costs up to the limit of your policy.

Compared to other policies, umbrella insurance has several unique features. Unlike most policies, it has no specific deductible, meaning you don’t have to pay out of pocket before your coverage kicks in. Additionally, umbrella insurance typically covers incidents your other policies may not, such as defamation or wrongful eviction claims.

It’s crucial to mention that umbrella insurance is not a substitute for other types of insurance, nor should it be seen as a stand-alone solution. Rather, it is meant to enhance your existing coverage and protect against unforeseen incidents where your primary coverage falls short. Thus, reviewing your current policies regularly and assessing whether umbrella insurance can provide additional peace of mind is essential.

We Are Here To Help

Making sense of the various types of insurance policies available in Easton, PA can be daunting. Umbrella insurance is one excellent option for those who already have homeowners, auto, or other policies. Remember, the key to maximizing your coverage is to contact Northeast Insurance Advisors LLC so we can tailor an insurance plan that best suits your needs.

What types of things are not covered by umbrella insurance?

Many people in Easton, PA purchase umbrella insurance to supplement their auto or homeowners insurance. Umbrella insurance provides an extra layer of protection by covering things that your auto or homeowners insurance doesn’t. However, it’s important to know that umbrella insurance has its limits. Northeast Insurance Advisors LLC is here to assist with all your insurance needs, including getting you the right umbrella policy. 

Here we take a look at some of the things that are not covered by umbrella insurance.

Things Not Covered By Umbrella Insurance

  • Flood Damage
  • Sewage Backups
  • Mold Or Mildew Damage
  • Termite Damage
  • Deliberately Caused Damage
  • Nuclear Accidents

What Does Umbrella Insurance Cover?

Umbrella insurance does cover some things that your auto or homeowners insurance doesn’t. For example, umbrella insurance will cover you if you are sued for libel or slander. It will also cover you if you are sued for damage that you caused with your car, even if it was an accident.

So, while there are some things that umbrella insurance doesn’t cover, there are also some things that it does cover. If you’re looking for extra protection, umbrella insurance may be a good option for you.

Contact Us Today

While umbrella insurance can provide valuable protection, it’s important to know what it does and does not cover. In the greater Easton, PA area, umbrella insurance does not cover flood damage, sewage backups, mold or mildew damage, termite damage, deliberately caused damage, nuclear accidents, war, or acts of terrorism. If you have any questions about what is and is not covered by your umbrella policy, be sure to contact Northeast Insurance Advisors LLC. Our agents will answer any questions you have about umbrella insurance – or any type of insurance. 

Umbrella Insurance FAQs

For most people, probably the first thing that comes to mind when they hear umbrella insurance is weather-related coverage. But the truth is that it has nothing to do with the weather. So, what is it? Is it essential? These are the questions most people have because they are unsure whether they need it as they have other insurance coverages like car and home insurance.

To that end, Northeast Insurance Advisors LLC does have some answers to some frequently asked questions about umbrella insurance. With this, you make an informed decision in determining whether umbrella insurance is the right choice for you.

What is umbrella insurance?

Umbrella insurance comes in when your other insurance coverages become depleted. For example, umbrella insurance steps in when you are found liable in an auto accident, and the damage goes beyond your auto insurance limit.

What does an umbrella insurance policy cover?

Umbrella insurance policy covers you, your family, and your household members. You can rest assured that the umbrella policy got you more, especially if you have teens.

Umbrella insurance can help you when you are accused of the below by third parties:

  • Bodily injury
  • Property damage
  • Malicious prosecution
  • Slander or libel

Besides, umbrella insurance pays for legal charges, including attorney fees and settlement claims.

Who needs umbrella insurance?

Everyone earning a livelihood needs umbrella insurance. Unfortunately, we live in an era where you can get sued for nearly anything, which may leave your finances at stake.

However, there are categories of people who need it more than others.  These include people who:

  • Own pets
  • Host large parties
  • Employ household staff
  • Drive luxury cars
  • Own homes and rent out
  • Are public figures 
  • Own pools, trampoline, boat, hot tub, or jet ski
  • Chair a charitable organization
  • Participate in high-risk activities

Is umbrella coverage mandatory?

The answer is no. umbrella insurance adds to your liability coverages to provide peace of mind and boost your coverage.

Umbrella insurance in Easton, PA

The main aim of the umbrella is to protect your vital assets. If you live in Easton, PA, and its surrounding, contact Northeast Insurance Advisors LLC to get your umbrella insurance coverage. We will also be happy to answer any other questions you may have.

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